… Recommendation comes ahead of next month’s start to 50% pay-cuts

By Clifton Ross

CRICKET West Indies’ (CWI) woes seem to be piling up as an internal report recently called for CEO Johnny Grave to undergo financial management training, at the board’s expense.
According to a trustworthy source within the echelons of Windies cricket, Chronicle Sport was informed that the recent proposal stemmed from CWI having to cut back on their finances by 50 percent, effective from July 1, 2020.

The assessment was done by a special committee that was set up specifically for conducting a performance analysis for the Englishman Grave and CWI director of cricket Jimmy Adams.

It is also believed that CWI wants to ensure that the CEO is suitably equipped and capable of managing the financial situations of the board and focussing more on increasing revenue; while allowing others to share responsibility regarding other logistical matters that may arise in running the day-to-day operations of the sport.

CWI’s Board of Directors sought recommendations from the Financial Strategy Advisory Committee (FSAC) back in April by CWI president Ricky Skerritt regarding measures to ensure the board properly managed its resources while continuing its operations over the next few months in wake of the COVID-19 pandemic.

On May 28, following a meeting with all parties the CWI announced a temporary 50 percent reduction in salaries and cricket funding across the entire regional cricket system, effective from 1st of next month.

According to CWI, the devastating economic challenges which have been realised due to COVID-19 have forced the executives after talks with shareholders to sadly agree upon the decision.

The verdict, CWI believes, will preserve the future of Windies cricket, while still affording the tiniest levels of job protection for those working or contracted within the West Indies cricket community.

More so, it was noted by CWI that the pay-cuts and setbacks could likely last between three to six months and some of the new changes include; a 50 percent reduction in funding for Territorial Boards, Territorial Board Franchises and West Indies Players Associations (WIPA). There will also be a 50 percent cut in all retainers and allowances for directors and executive management within CWI.

Due to the recent financial issues, CWI who usually sees an annual turnover of about US$45M, requires professionals to now ensure prudent management especially in generating new revenue streams and with Grave’s background mostly recognised in players’ relations; the board could want their current CEO to be like others who were financial figures in the past.

In the past, former CWI president Dave Cameron’s day job when not involved in CWI affairs was that of a financial analyst, using his professional skills in the economic world to help better his skills as head of the regional cricket body.

Much like Cameron, previous CWI CEO Michael Muirhead was a banker by profession and it reflected as he too did a fair job during his tenure in the position, with regard to keeping the board’s finances intact and funded; despite challenges.

With the position of CEO being a tricky one, CWI should mull the idea of sticking to their old plans and keep a professional pecuniary in position of Chief Financial Officer (CFO) as to further lend the much needed assistance to the current or future CEO; given that the current executives seem to be ill-equipped with post-apocalyptic measures.

In all, the next few months will be the roughest it’s ever been financially for all who share in West Indies cricket, due to the pandemic and executives as well as players will need to come together and formulate a plan for the longevity of cricket, on and off the field.